A European states-backed consortium of development finance institutions (DFIs) and renewable energy fund manager Frontier Energy have announced a co-investment of over $52mn for Planet Solar, a greenfield 50-MW solar power project in Sierra Leone. The project will be developed by Frontier Energy and Planet One, a tech-based solutions provider.

The co-investment between British International Investment (BII), the Dutch entrepreneurial development bank FMO, and French Development Agency-owned Proparco allows the development of a critical infrastructure expected to stimulate investment in renewable energy, responding to the urgent need for access to clean, affordable and stable power.

Renewable energy potential in Sierra Leone is abundant, primarily in hydropower, wind and solar resources, PV Magazine reports. However, it remains underutilised while up to 80% of the country's electricity is generated from fossil fuels.

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